Rupee recovers, premiums fall below critical level
The rupee closed at 81.6700 per U.S. dollar compared with 81.6850 in the previous session. The local unit had fallen to 81.8325 in opening trades, thanks largely to the Chinese yuan.The offshore yuan fell to a two-week low of 6.2571 to the dollar following protests in China against the government’s COVID policies. Chinese equities slipped.
